RHBCap profit rises 5.7pc to RM1.8b
KUALA LUMPUR: RHB Capital Bhd (RHBCap) reported a net profit of RM1.8 billion for the financial year 2012, representing a 5.7 per cent increase from a year ago.
Total revenue increased by 10.4 per cent to RM4.8 billion, while pre-tax profit registered a six per cent growth to RM2.4 billion.
Earnings per share rose to 79 sen from 77.5 sen recorded in the previous year. Return on equity and return on assets stood at 13.4 per cent and one per cent respectively, said RHB in a statement yesterday.
With effect from January 1 last year, the group adopted the retrospective application of Malaysia Financial Reporting Standards (MFRS) 139, Financial Instruments: Recognition and Measurement.
Pre-tax profit and net profit for the corresponding financial year 2011 have been restated to RM2.2 billion and RM1.7 billion respectively. Excluding the effects of the restatement, pre-tax profit and net profit for the group would have been higher at 19.2 per cent and 18.9 per cent respectively.
Included in the group's 2012 results are the two months performance of OSK Investment Bank Bhd (Oskib), amounting to RM20 million, as well as merger and integration-related expenses totalling RM28.5million.
The higher pre-tax profit of the group was driven by higher net interest income, other operating incomes and income from Islamic banking business, lower impairment losses on other assets and contributions from Oskib, partially offset by higher other operating expenses and higher allowance for impairment on loans and financing.
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